Intro to Accounting Essay

399 WordsMay 28, 20132 Pages
1. . a. What are generally acceptable accounting principles (GAAP)? According to Kate Mookey in her dictionary of accounting – It is the system of rules, procedures, and concepts developed by accounting profession. They are the approved methods of accounting for business activities and are used as the basis for evaluating the fairness of financial statements. b. What is the purpose of GAAP? c. What organizations are involved in establishing GAAP? |Question 2 |14 points |Save | | | 2.. Describe provider incentives AND risks under EACH of the following reimbursement methods: | | | | | | |a. Cost-based b. Charged-based (including discounted charges) c. Per Procedure | | | | | | |d. Per diagnosis e. Per diem f. Global pricing g. Capitation | | | | | | | | | | | | | | (14pts) | | | | | | | | | | | | | | | | | | | | |Consider the following income statement: | |________________________________

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